Yunqi Capital Ltd Sells 354,000 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Yunqi Capital Ltd reduced its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,084,500 shares of the company's stock after selling 354,000 shares during the period. Full Truck Alliance makes up about 13.6% of Yunqi Capital Ltd's holdings, making the stock its 4th largest holding. Yunqi Capital Ltd owned about 0.10% of Full Truck Alliance worth $13,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Full Truck Alliance by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock worth $311,000 after buying an additional 1,406 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Full Truck Alliance during the first quarter worth about $315,000. Brilliance Asset Management Ltd. grew its holdings in shares of Full Truck Alliance by 29.5% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company's stock worth $45,375,000 after buying an additional 954,124 shares during the last quarter. AI Squared Management Ltd purchased a new position in shares of Full Truck Alliance during the fourth quarter worth about $3,159,000. Finally, Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after buying an additional 295,301 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Down 2.8%

Shares of NYSE YMM traded down $0.35 during trading on Wednesday, hitting $12.35. 5,919,104 shares of the company traded hands, compared to its average volume of 8,652,338. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $6.66 and a 1 year high of $13.85. The company has a 50-day moving average price of $12.00 and a 200-day moving average price of $11.77. The firm has a market capitalization of $12.92 billion, a P/E ratio of 24.70 and a beta of 0.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $18.00 to $10.00 in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Full Truck Alliance Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.